President Anura Dissanayake has stated that vehicle prices in Sri Lanka will see an initial increase due to the rise in the dollar but are expected to decline over time. He made these remarks while addressing a public gathering organized by the National People’s Power in Galgamuwa.
The President explained that after several years of restrictions, permission has now been granted to import vehicles for personal use. However, he cautioned that a sudden surge in vehicle imports could lead to increased demand for dollars, which would, in turn, drive up prices. Therefore, the government is taking a measured approach to vehicle imports to avoid unnecessary economic strain.
He further noted that the high prices of imported vehicles are primarily due to the depreciation of the rupee against the dollar, along with the imposition of several taxes. He reassured the public that while prices will be steep initially, there is an expectation that they will stabilize and decrease over time.
The President’s remarks come as Sri Lanka gradually eases its vehicle import restrictions after a long hiatus, sparking concerns over affordability and market fluctuations.
